Cochin Shipyard's shares soar after securing a major defense contract, despite recent market volatility.

Cochin Shipyard's shares surged after winning a Rs 1,000 crore contract from India's Ministry of Defence for a naval vessel refit. The company reported a 4% increase in net profit and a 13% rise in revenue in the latest quarter. Despite recent gains, shares have fallen 42% from their peak, erasing nearly 18% of investor wealth in six months. Cochin Shipyard's shares are up 131% in 2024.

December 02, 2024
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